Retirement plan

PETRO 49, INC. PROFIT SHARING AND 401(K) PLAN

Name: PETRO 49, INC. - PETRO 49, INC. PROFIT SHARING AND 401(K) PLAN (2024) Form 5500
Creator: PETRO 49, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PETRO 49, INC. PROFIT SHARING AND 401(K) PLAN, PETRO 49, INC.

PETRO 49, INC.EIN 92-0037645Plan #001PY 2024

PO BOX 389 - SEWARD, AK 99664907-562-5000LinkedIn11-50 employeesreal estate

Prospect flagsHigh feesLow participationFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$35.4M

+18.3% from 2023

Total participants

506

+27.5% from 2023

Average account balance

$110,820

+13.9% from 2023

Annual return

12.98%

-4.39 pp from 2023

Benchmarks

See 1,403 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants250-999

Cohort1,403 peers

Snapshot2024

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$35.35M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$111K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

319

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

57.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.01M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+12.98%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$315

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Top 2 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL10+ years Service code 60 · EIN 04-2647786	Sub-TA Fees	$53,865
HUMAN INTEREST ADVISOR LLC9 years Filed as: HUMAN INVESTING Service code 27 · EIN 74-3130983	Advisory (Plan)	$46,763

Plan features & details

Pension benefit codes2T2E3D2F2G2J

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$101K

$228 / participant

Recordkeeping$54K53.5%
Investment mgmt$47K46.5%

% of EOY assets

0.285%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BDO USA, P.C.
Auditor EIN: 135381590
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$110,820

$89,465+23.9%

$165,071-32.9%

$77,736+42.6%

Participation rate

57.6%

78.6%-21.0pp

70.6%-13.0pp

Annual return

12.98%

28.86%-15.9pp

70.17%-57.2pp

31.26%-18.3pp

Employer contribution / active EE

$3,409

$2,565+32.9%

$4,347-21.6%

$2,728+25.0%

Participant deferral / active EE

$3,421

$4,904-30.2%

$6,035-43.3%

$4,651-26.4%

Admin fee / account holder

$315

$340-7.2%

$12,695-97.5%

$433-27.2%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL10+ years

Service code 60 · EIN 04-2647786

Sub-TA Fees

$53,865

HUMAN INTEREST ADVISOR LLC9 years

Filed as: HUMAN INVESTING

Service code 27 · EIN 74-3130983

Advisory (Plan)

$46,763

PETRO 49, INC. PROFIT SHARING AND 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PETRO 49, INC. PROFIT SHARING AND 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion